MTN Uganda has reported robust financial performance for the year ended December 31, 2025, driven by strong growth in data consumption and fintech services.
According to the company’s audited annual results, total revenue rose 13.6 percent year-on-year to Ush3.6 trillion, while service revenue increased 13.4 percent to Ush3.57 trillion, highlighting sustained demand for digital and financial services across the country.
The telecom operator also recorded earnings before interest, tax, depreciation and amortisation (EBITDA) of Ush1.9 trillion, representing a 17 percent increase, with the EBITDA margin improving to 53.8 percent.
Profit rises despite tax settlement
Profit after tax climbed 5.8 percent to Ush678.8 billion during the year. However, when adjusted for a one-off tax settlement of Ush110.9 billion related to a transfer pricing audit covering 2012–2024, adjusted profit after tax increased 23.1 percent to Ush789.7 billion.
The board approved a final dividend of Ush8.25 per share, bringing the total dividend for the year to Ush28.75 per share.
Chief Executive Officer Sylvia Mulinge said the results reflect the company’s commitment to innovation and customer-focused services.
“These results reflect our sustained commitment to customer centricity, supported by rigorous network investment and continued innovation in a rapidly evolving environment,” Mulinge said.
Data and fintech drive growth
Data services were a major driver of growth, with data revenue rising 28.8 percent to Ush1.0 trillion. The increase was supported by an 18.6 percent rise in active data users to 12 million and a 51.2 percent surge in data traffic.
Smartphone penetration on the network also grew to 42.8 percent, as more subscribers adopted smartphones through device financing initiatives.
Fintech services continued to expand rapidly, generating Ush1.1 trillion in revenue, a 17.3 percent increase year-on-year.
The company reported 14.7 million fintech subscribers, up 6.5 percent, while transaction volumes grew 16.8 percent to five billion transactions. Total transaction value rose 23.3 percent to Ush195.5 trillion.
Advanced financial services—including digital payments, lending and savings offered through the company’s **MTN MoMo platform—accounted for 30.6 percent of fintech revenue, reflecting increased adoption of mobile financial services.
Network expansion continues
MTN Uganda also continued investing heavily in network infrastructure, spending Ush549.4 billion on upgrades and coverage expansion during the year.
By the end of 2025, 4G coverage reached 88.6 percent of the population, while 3G coverage increased to 96.2 percent. The company also expanded its 5G rollout, adding 126 new sites and extending coverage to 19 percent of the population.
Sustainability and community investments
The telecom operator said it remains committed to environmental and social initiatives as part of its broader strategy.
The company reported reducing greenhouse gas emissions by 43 percent from its 2021 baseline, in line with its Net Zero 2040 commitment.
Through the MTN Foundation, the company invested more than Ush5.1 billion in community projects focusing on education, healthcare and ICT development.
Outlook for 2026
Looking ahead, MTN Uganda expects continued growth supported by favourable economic conditions. The Bank of Uganda projects the country’s economy will expand between 6.5 percent and 7 percent in the 2025/2026 financial year, driven by stronger exports, foreign investment inflows and a recovery in tourism.
The company said it plans to continue investing in network expansion, home broadband services and fintech innovations to sustain its growth momentum.
MTN Uganda also announced that shareholder register closure for the dividend will take place on April 10, 2026, with payments scheduled for April 30, 2026. The company’s financial statements received an unqualified audit opinion after board approval on March 12, 2026.
